Employees, who were forced to wait without pay for months, have claimed for more than £370,000. However, just £45,618 of this has been classed as a preferential creditor, the remaining amount is unsecured.

Paper companies were hit for almost £400,000, while a very small number of finishing companies accounted for almost £100,000 worth of debt.

The report confirmed that an offer was made by MPC, on 19 May, to purchase the assets of The Nuffield Press in Oxford; prior to the administrator's appointment on 28 June.

The report stated: "Negotiations had begun at the end of April regarding the acquisition of the business and assets of The Nuffield Press in an attempt to save the business and a formal offer was made on 19 May."

It is confirmed in the report that negotiations broke down – Nuffield Press went into administration on 27 June. 

It was also revealed in the report that during the build-up to the administration John Davies became a director of the company, investing £80,000 and acquiring a majority shareholding. When the company entered administration, Davies' shareholding was 70%, while the estate of Maurice Payne held 25% and Graham Payne owned 5%.

During the build-up to the administration, three notices of intent were filed. The first was made on 13 April, but further notices were made on 1 June and 15 June before administrators were finally appointed on 28 June.

The report claimed that the main reason for the administration was a number of bad debts and contract losses between 2008 and 2010, coupled with customers that continued to trade with the company doing so on reduced prices and a 20% rise in the cost of paper.

According to the administrator, MPC was also hit in January 2011 when Maurice Payne passed away and Tom and Finnbar Payne were appointed as directors.

The report stated: "As a result customers became cautious as they were unsure of which direction the company would take."